Reference is made to the Company’s announcements dated 10 July 2019, 19 July 2019, 22 August 2019 and 24 September 2019 in relation to the Proposals (“Earlier Announcements”) and the circular to shareholders of the Company dated 30 August 2019 (“Circular”).  Unless otherwise stated, terms used in this announcement shall carry the same meaning as defined in the Earlier Announcements and/or the Circular.

On behalf of the Board, AmInvestment Bank wishes to announce that Bank Negara Malaysia (“BNM”) had vide its letters dated 17 October 2019 and 18 October 2019 (“Approval Letters”) approved the issuance of RCCPS to non-residents minority shareholder(s) of I-Berhad.

The Approval Letters will be automatically revoked in the event that:-

1. there be any information / documents presented by I-Berhad at the time of the application or after the approval has been granted is found to be false, inaccurate, incomplete, ambiguous, or which contains any error or there is material omission;
2. the funds raised from the issuance of the said RCCPS is used by I-Berhad for any other purposes other than to fund the property development projects of I-Berhad in Malaysia; and
3. Revision to any terms including the utilisation of proceeds from the said borrowings without the prior approval of BNM.

This announcement is dated 18 October 2019.